Texas-based aircraft lease-finance specialist Spectre Air Capital announced at the annual CargoFacts Symposium an initial order of 15 firm plus rolling options for 737-700 and 737-800 passenger- to-freighter conversions with Israel Aerospace Industries (IAI), and a launch order from Seoul Korea-based Air Incheon for three 737-800 freighters on long-term lease for delivery beginning in 2017.
“Demand for express freighters is at an all-time high, with hundreds more required in the coming years to meet the demand created by rapid growth in e-commerce and expansion of the global middle class,” said Jordan Jaffe, Spectre’s CEO and co-founder. “The classic freighter feedstock is becoming increasingly scarce and overly expensive for their age. We intend to leverage our ability to purchase in fleet-sized transactions to offer next-generation freighters with attractive economics. Spectre’s order means that 737-700 and 737-800 freighters will be available on a turnkey basis for lease and purchase to forward-thinking customers beginning from Q1 2017 (-700F) and Q3 2017 (-800F), with Spectre taking the attendant technical, financial and schedule risks inherent with aircraft acquisition and PTF modification programs such as these.”
Spectre’s large 737NG freighter commitment follows its 20-aircraft Boeing 767-300ER program collaboration earlier this year with aircraft trading partner Jetran, the majority of which will become freighters and be operated in support of e-commerce giants such as Amazon’s Prime Air and China-based Alibaba. Spectre Cargo Solutions (SCS) is the freighter aircraft focused arm of Spectre Air Capital, a Texas-based aircraft trading and leasing company whose principals have bought, sold and leased 500+ passenger, freighter and special mission aircraft. SCS’ leadership, including president Kevin Casey and Asia-based Sam Goh, is well regarded and among the most experienced freighter conversion team in the business, with hundreds of cargo conversions sold, performed and supported spanning Boeing 737 F/C/QC, 757 F/C, 767F and 747F.